Richard Lee- Unsuitable Recommendations
Richard Lee Allegedly Made Unsuitable Recommendations of an Active Trading Investment Strategy to His Customers
Richard Lee, who has been associated with CISC since July 9, 2013, allegedly made unsuitable recommendations for an active trading investment strategy, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Joe Peiffer and James Booker.
FINRA further alleges that for about four and a half years CISC, through registered reps and principals, allegedly put growth before compliance, profits before customers, and purportedly lacked in transparency, the Complaint reports.
The Peiffer Wolf securities lawyers are currently investigating Richard Lee’s alleged unsuitable recommendations.
Richard Lee Barred by FINRA; No Monetary Sanctions have been Imposed on Lee Due to His Alleged Inability to Pay
Richard Lee allegedly made an unsuitable recommendation of an active trading investment strategy to his customer, and therefore violated FINRA Rules, according to a Complaint from FINRA’s Department of Enforcement presently under review by attorneys Joe Peiffer and James Booker.
Hence, Lee has been suspended by FINRA for 18 months in all capacities from associating with any FINRA member firm and must by examination before re-entering the securities industry in any capacity, FINRA notes.
Finally, as Lee has reportedly submitted a sworn financial statement and demonstrated an inability to pay, and regarding the news of his financial status, FINRA allegedly has imposed no monetary sanctions, FINRA reports.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of unsuitable recommendations and are currently investigating Richard Lee’s unsuitable recommendations for an active trading investment strategy. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of unsuitable recommendations for an active trading investment strategy may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 504-523-2434.